. @ethena_labs is soon to achieve 1B in annual revenue, which is almost as much as Hyperliquid!
Except that none of these revenues are directed towards the holders... For now!
A fee switch has already been discussed to redirect revenues to the $ENA stakers, but for that, we need 5 conditions:
1. USDe supply > 6b ✅
We blew up the target, we are at double.
2. Cumulative revenue > 250M ✅
Similarly, we exploded the target at 400M
3. Reserve fund > 41M ✅
We're over 65M easy peasy
4. APY sUSDe > sUSDs ❌
It will be the case very soon! Just a little more euphoria in the markets and it will be done.
5. Integration on a tier 1 CEX ❌
Not yet, but probably it will come together with point 4 to surprise everyone.
We are getting closer and closer to the targets needed for the fee switch; the day that happens will allow stakers to benefit from a high APY, thus creating buying pressure + locking of the supply.
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. @ethena_labs is soon to achieve 1B in annual revenue, which is almost as much as Hyperliquid!
Except that none of these revenues are directed towards the holders... For now!
A fee switch has already been discussed to redirect revenues to the $ENA stakers, but for that, we need 5 conditions:
1. USDe supply > 6b ✅
We blew up the target, we are at double.
2. Cumulative revenue > 250M ✅
Similarly, we exploded the target at 400M
3. Reserve fund > 41M ✅
We're over 65M easy peasy
4. APY sUSDe > sUSDs ❌
It will be the case very soon! Just a little more euphoria in the markets and it will be done.
5. Integration on a tier 1 CEX ❌
Not yet, but probably it will come together with point 4 to surprise everyone.
We are getting closer and closer to the targets needed for the fee switch; the day that happens will allow stakers to benefit from a high APY, thus creating buying pressure + locking of the supply.
I am sure it will happen this year.